John O'Neil, vice president of Metropolitan Land Group LLC, said his company has a contract to purchase about 18 acres for residential development. The group hopes to build about 300 residential units of some type, he said, specifics of which would be determined based on market conditions.

Developer Sean Keys is the managing member of the group, O'Neil said. Keys has built multi-family residential projects throughout the metro area, most recently in Sherwood.

O'Neil said developer Edwin Kawasaki, of West Linn, will head the commercial component. Kawasaki has not responded to requests for comment.